First Independent Mena Newspaper
Germany is backing Morocco’s green hydrogen production with a $32 million (€30 million) investment in OCP Group’s green hydrogen plant in Jorf. The funding by the German PtX Development Fund is intended to support sustainable fertilizer manufacturing, according to German media reports. The PtX Development Fund, endowed with a budget of €270 million, is initiated […]
As the African crypto-currency industry navigates a pivotal period of growth, crypto providers will have to address three critical challenges, including security threats, technology capabilities, and regulation, in order for the industry to succeed in 2025, says a new State of the Crypto Industry 2025 report. The Sumsub’s newly released report, which provides an in-depth […]
The International Monetary Fund (IMF) commended Morocco’s tax reforms which enabled an enlargement of the tax base, narrowed the fiscal deficit and helped finance key reforms. “As a result, tax revenues in 2024 have been greater than expected. With only a small part of the additional tax revenues being saved, the central government’s deficit for […]
The European Bank for Reconstruction and Development injected 38.4 million euros-via a green bond issuance- in Moroccan rail operator ONCF, as the latter expands its network. “Issuing the bond will partially refinance the debt from ONCF’s latest development round designed to modernize and electrify the network; acquire and upgrade electric rolling stock; address safety units […]
Egypt’s urban inflation rate has experienced a slight reduction for the fourth consecutive month, falling to 24% in January, according to the Central Agency for Public Mobilization and Statistics (CAPMAS) on February 10. This marks a modest decline from the 24.1% recorded in December 2024. On a year-on-year comparison, inflation has dropped by 0.8 percentage […]
Morocco’s state-owned rail operator ONCF raised $200 million via a green bond that was five times over-subscribed with a total demand reaching $1 billion. The bond was part of ONCF’s green push, as it plans to expand the national rail network. The four-tranche bond had maturities ranging from 10 to 15 years at rates varying […]
Algeria costs annually France over 9 billion Euros, which represent more than the budget of the French ministry of agriculture and three times the budget of the French Overseas Territories. These outrageous figures have been disclosed by French deputy Sarah Knafo saying “the French taxpayers pay annually over €9 billion to Algeria, an oil-gas producer […]
In a significant move, the President of Tunisia dismissed Sihem Boughdiri from her position as Finance Minister on Wednesday February 5, appointing Michkat Khaldi, a prominent judge, as her replacement. Khaldi, who took the official oath at Carthage Palace, assumes the role at a time when the country’s economic situation is dire. Boughdiri, who had […]
The sudden halt in USAID funding by US president Donald Trump has sparked a growing crisis for non-governmental organizations (NGOs) and healthcare workers across Africa, who are now scrambling to cope with the financial and logistical fallout. The US Agency for International Development (USAID) last week announced the suspension of its programs in several African […]
The Kremlin has announced the expansion of the list of “friendly and neutral” African countries whose banks may now trade currencies and derivatives in Russia. By adding Nigeria, Tunisia and Ethiopia to the list, “the number of friendly and neutral countries whose credit institutions and brokers will be allowed to trade on the Russian foreign […]